房贷又降了！ 5月20日，最新贷款市场报价利率（LPR）公布。其中，1年期LPR为3%，5年期以上LPR为3.5%，均较 此前下降10个基点。随着5年期LPR降至历史低位，购房者月供成本进一步降低，部分城市的商业房贷利 率将进入"2字头"时代，加上公积金利率下调、存量房贷利率调整等政策，房地产市场迎来强有力的"降 息降成本"组合拳。 记者走访发现，多数购房者认为月供成本进一步下降会提振自己的购房信心，希望后续还有更多的优化措 施。 月供压力减轻 中原地产首席分析师张大伟表示："此次LPR下降10个基点，意味着全国首套房贷利率在3字头徘徊了近 一年后，将进入2字头。"据不完全统计，经过本次降息，一线城市首套房贷利率降至3.05%，大部分城 市的首套房贷利率将降低到2.9%左右。 在深圳罗湖区一处新房营销中心，记者与多位购房者交谈发现，多数购房者认为月供成本进一步下降会提 振自己的购房信心。同时，相关楼市政策的变化也会影响购房决策，希望后续还有更多的优化措施。 另外，自存量房贷利率在去年迎来正式下调后，不少购房者放缓了"提前还贷"的步伐。有银行个贷经理表 示，去年下半年以来，提前还贷的情况有所好转，同时，存量房贷 ...

美联指，近年住宅市场出现"租升价跌"的情况，带动租金回报率持续攀升。据差估署资料显示，最新3 月份A类私宅租金回报率录3.7%，较去年同期3.3%增加0.4个百分点，较2021年的2.3%的低位相比更增 加1.4个百分点。配合楼市全撤辣之下，相信会吸引用家"租转买"上车。 4月租金续升，部份铁路沿线屋苑的呎租环比表现突出，当中佐敦站港景峰呎租环比升约9.8%，乌溪沙 站银湖天峰及黄大仙站现崇山亦分别升约8.8%及约8.4%。九龙塘站又一居与朗屏站朗屏8号呎租则分别 升约7.5%及约7%。 美联物业首席分析师刘嘉辉指出，近日拆息持续回落，今日(5月9日)拆息进一步跌至1.93%水平，以楼 按H+1.3%计算，即H按息跌至3.23%，比起P按封顶3.5%低约0.27%，即变相减息超过四分之一厘。假设 以贷款额500万港元、还款期30年计算，最新H按息3.23%的每月供款为21705港元，比起昨日以H按 3.39%计算的22146港元少约441港元(减约2%)，较P按封顶3.5%的每月供款为22452港元，更减少约747 港元(减约3.3%)。 智通财经APP获悉，香港住屋需求持续强劲，支持私宅租金进一步攀升。美联 ...

Core Viewpoint - The report from China Merchants Securities indicates that the difference between net rental yield and mortgage rates in first-tier cities ranges from 69 to 146 basis points, with smaller differences in second and third-tier cities. A further decline in mortgage rates is expected to help stabilize total demand for new and second-hand housing [1][5]. Group 1: Current Market Conditions - Since September 24, the real estate market has seen improvements due to policy easing, including adjustments to down payment ratios and mortgage rates, which have positively influenced resident expectations and market fundamentals [2]. - The current market is characterized by strong supply and demand in high-tier cities, while lower-tier cities are experiencing weakened demand [2]. Group 2: Mortgage Rate Decline Pathways - Potential pathways for mortgage rate declines include lowering the housing provident fund rate to create space for commercial loan rate reductions and timely adjustments to the 5-year Loan Prime Rate (LPR) [3][4]. - The current first-time home loan interest rate in 50 cities has reached a low of 3.06%, with a subsequent slight rebound to 3.11%, influenced by the housing provident fund rate [3]. Group 3: Impact of Mortgage Rate Decline on Housing Demand - Historical data suggests that a narrowing gap between net rental yield and mortgage rates can stabilize total housing demand. For instance, during the U.S. subprime mortgage crisis, a similar trend was observed where rental yields increased as mortgage rates decreased [4][5]. Group 4: Supply and Demand Relationship - A decline in mortgage rates is expected to reduce "trend trading" listings, thereby improving the supply-demand relationship and providing investors with clearer expectations regarding the stabilization of housing prices [7]. - The structure of listings can be categorized into forced sales due to liquidity issues and those based on future price expectations, with the latter likely decreasing as mortgage rates fall [7]. Group 5: Investment Strategy - The company maintains a dual investment strategy focusing on both relative and absolute perspectives in the real estate sector. Investors are encouraged to seek high-growth stocks while balancing valuations [8]. - Attention is drawn to companies with a history of stable cash flow generation and those that may benefit from valuation recovery as debt repayment pressures ease [8].

根据市场公开信息，香港九龙城"南首"项目在上周末首轮销售181套住宅全部售罄，共"套现"超过9.6亿港 元。据了解，上周末，香港楼市以一手新房为主，多个新房项目展开首轮销售并取得理想成绩。 在香港上水从事房产经纪业务的陈经理表示，春节过后香港各区的一手新房都有不错的销售表现，多个新 房项目均在首轮销售中全部售罄。 3月4日，香港特区政府土地注册处公布的最新数据显示，今年2月楼宇买卖合约共4307份，环比下跌 12.8%，但同比上升35.1%，合约总值283亿港元。 有分析人士表示，受市场受观望情绪及春节假期影响，近几个月香港楼市的成交量连续下跌，但一手住宅 市场已经出现回暖迹象，2月的登记量环比上升18.9%。二手房市场方面，预计近日推出的楼市新政将带动 成交量回升，香港特区政府宣布将征收100港元印花税的物业价值上限由300万港元提高至400万港元，有 助于降低买家在高利息环境下的购房成本，提振中小户型单位的成交。 （香港二手住宅小区 吴家明/摄） 上周，香港特区政府财政司司长陈茂波发表新一份财政预算案时表示，为减轻购买房价较低的住宅及非住 宅物业人士负担，将征收100港元印花税的物业价值上限由300万港元 ...